Mr. Brad Kitchen reports

ELEMENT ONE 2025 YEAR END CORPORATE UPDATE

Element One Hydrogen and Critical Minerals Corp. has provided the following 2025 year-end corporate update from its chief executive officer Brad Kitchen.

"As we close out 2025, I believe Element One Hydrogen and Critical Minerals Corp. is standing at the edge of a breakout moment -- one that very few investors have yet recognized.

"This year was about building quietly, deliberately and intelligently. The result is a company with rare positioning: a true first mover in an emerging sector, natural (geologic) hydrogen, a market that could transform the global energy sector. In addition, Element One is on the forefront of critical mineral exploration and advanced extraction techniques. With that foundation now firmly in place, I believe 2026 will be a defining year for Element One and a potential inflection point for our valuation.

"Natural hydrogen -- sometimes called white or geologic hydrogen -- is not manufactured. It occurs naturally in the Earth's crust and may be generated continuously by geological processes. If proved and scaled, it represents one of the most disruptive energy opportunities of our generation: clean hydrogen at dramatically lower cost than both fossil fuels and most green hydrogen solutions.

"One kilogram of hydrogen contains roughly the same energy as one gallon of gasoline. While gasoline currently costs approximately $3.65 (U.S.) per gallon and green hydrogen can exceed $7 (U.S.) per kilogram, natural hydrogen has the potential to be produced for as little as 51 U.S. cents to 75 U.S. cents per kilogram. That is not incremental improvement -- that is step-change economics.

"While the natural hydrogen industry is in its infancy, 2025 saw major developments that Element One is following closely. During the premier natural hydrogen conference, H-NAT, held in Paris, France, in November, company representatives attended talks highlighting significant advances in natural hydrogen exploration, including the first wells drilled in Canada, ongoing drilling in Australia and Kansas, and the first successful test of stimulated hydrogen in Oman. Research in the sector is advancing as many countries across the globe recognize the potential of natural hydrogen. Element One is continuing to build on exploration and technological advances as well as seeking new partnerships to acquire and advance projects.

"From a small-cap investor's perspective, Element One's structure is exceptionally compelling. We have only 36 million shares issued and outstanding, with approximately 80 per cent owned by management and key long-term investors. This creates scarcity and leverage that few early-stage companies can match. Comparable public peers focused on natural hydrogen already trade at materially higher market capitalizations despite much narrower strategies.

"What truly separates Element One is that we are not a single-path story. We are active across three major forms of natural hydrogen: hardrock stimulation and extraction, repurposing legacy oil and gas wells, and hydrogen accumulation systems with multiple potential sources -- while also maintaining a portfolio of critical minerals assets that provides additional upside and optionality.

"Our team has done this before. In 2025, we strengthened management with the addition of Tim Johnson as COO and Allegra Hosford Scheirer as chief geological consultant, aligning technical excellence with disciplined capital markets execution. Dr. Greeshma Gadikota, tenured professor at Columbia University, is our key researcher developing proprietary hardrock hydrogen and critical mineral extraction technologies rooted in world-class science. Members of our leadership team have previously helped take a public company from a $3-million to a $100-million market capitalization in under a year, and played key roles in advancing assets that ultimately sold for $1.6-billion. We are applying that same disciplined, institutional approach here.

"Late in 2025, we significantly upgraded our asset base with the acquisition of the HY project and the Shulaps project in British Columbia -- ultramafic systems with geological conditions favourable for hydrogen generation and access to infrastructure. Our exploration model remains data driven, capital efficient and partnership oriented.

"2026: key milestones and value catalysts

"As we move into 2026, investors should watch for several potential catalysts that we believe could materially advance the company:

• "Progress across multiple hydrogen pathways, demonstrating the advantage of our diversified strategy;
• "Continued consolidation of critical mineral optionality, strengthening our broader resource platform;
• "Advancement of hardrock hydrogen extraction technology developed in partnership with lead researches in the industry;
• "Initial revenue generation through our Union Bay joint venture, marking Element One's transition from concept to cash-flowing operations;
• "Technical validation and data updates from Alaska and British Columbia hydrogen projects, including HY and Shulaps;
• "Potential joint ventures or strategic partnerships designed to reduce capital risk while accelerating development;
• "Increased market awareness as natural hydrogen gains recognition as a viable clean energy solution.

"Global decarbonization is accelerating across heavy industry, transportation and energy systems. Hydrogen is expected to play a central role in that transition, and we believe cost-advantaged hydrogen supply is where real long-term value will be created.

"As we enter 2026, Element One is tightly structured, heavily insider owned, scientifically grounded and positioned in what we believe could become a massive new energy market. Opportunities like this rarely remain undiscovered.

"I want to thank our shareholders for being early and for believing in what we are building. We are focused, aligned and ready for what comes next."

Brad Kitchen, chief executive officer, Element One

About geologic hydrogen

Geologic hydrogen (also referred to as natural hydrogen) is generated through natural geochemical reactions within the Earth's crust, primarily from the interaction of iron-rich ultramafic rocks and water, as well as radiolysis and other catalytic subsurface processes. Unlike manufactured hydrogen derived from hydrocarbons or electrolysis, geologic hydrogen represents a naturally occurring primary energy resource with the potential to be produced at low cost with zero emissions. The discovery and development of geologic hydrogen reservoirs are an emerging frontier in global energy exploration, analogous to the early days of the oil and gas industry.

About Element One Hydrogen and Critical Minerals Corp.

Element One is a Canadian company focused on the exploration, development and commercialization of geologic hydrogen and critical mineral resources, as well as breakthrough hydrogen generation technologies. The company's projects include the Foggy Mountain critical mineral project as well as projects in Alaska and British Columbia that are prospective for hydrogen production through stimulation in the subsurface as well as critical and battery metals.

We seek Safe Harbor.